Banque Pictet & Cie SA Takes $330,000 Position in Teck Resources Ltd (NYSE:TECK)

Banque Pictet & Cie SA purchased a new position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,073 shares of the basic materials company's stock, valued at approximately $330,000.

Several other hedge funds also recently added to or reduced their stakes in TECK. PNC Financial Services Group Inc. increased its stake in Teck Resources by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after buying an additional 243 shares during the period. Sequoia Financial Advisors LLC grew its stake in Teck Resources by 2.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after acquiring an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Teck Resources by 6.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after acquiring an additional 297 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Teck Resources by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock worth $566,000 after acquiring an additional 302 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Teck Resources by 2.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company's stock valued at $548,000 after acquiring an additional 335 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

Shares of TECK stock opened at $38.74 on Friday. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $54.13. The business's fifty day simple moving average is $37.87 and its 200-day simple moving average is $38.85. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. The company has a market cap of $18.71 billion, a PE ratio of 66.80, a PEG ratio of 0.58 and a beta of 0.80.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. Teck Resources had a return on equity of 4.53% and a net margin of 3.48%. The firm's revenue was up 41.4% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. Analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.0901 dividend. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. Teck Resources's dividend payout ratio (DPR) is 62.07%.

Wall Street Analysts Forecast Growth

TECK has been the topic of several research analyst reports. Stifel Canada raised Teck Resources to a "hold" rating in a research note on Tuesday. Stifel Nicolaus began coverage on Teck Resources in a research report on Wednesday. They set a "hold" rating on the stock. Desjardins assumed coverage on Teck Resources in a report on Friday, April 4th. They issued a "buy" rating for the company. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Finally, BMO Capital Markets assumed coverage on shares of Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $65.25.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.

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